The independent energy company said revenue was up 40% to $157.2 million versus $87.5 million from the first quarter 2013.
Carrizo reported its net income was $23.4 million, or 52 cents per basic share and 51 cents per diluted share, compared to $20.6 million, or 52 cents per basic share and 51 cents per diluted share from the year ago quarter.
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The company's adjusted EBITDA for the most recent quarter increased 23% over the 2013 first quarter to $114.3 million from $93.3 million.
TheStreet Ratings team rates CARRIZO OIL & GAS INC as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate CARRIZO OIL & GAS INC (CRZO) a BUY. This is driven by a number of strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its robust revenue growth, solid stock price performance and expanding profit margins. We feel these strengths outweigh the fact that the company has had sub par growth in net income."